That 10-k Doesn't mean jack sh*t why can't you understand how a shell works? Are you hoping to catch one of the nubs off guard? That is a filing for SLMU's business.. This is SHELL COMPANY MAN. That's what a reverse merger is. They don't want to go through the red tape of an IPO. So we buy your empty and unprofitable company and take over the symbol. That's all Sunlogics fund is doing. Why is this so hard for you to comprehend?
Allow me to google this for you.
A reverse takeover or reverse merger (reverse IPO) is the acquisition of a public company by a private company to bypass the lengthy and complex process of going public. The transaction typically requires reorganization of capitalization of the acquiring company.
A Shell Stock (Shell Company) is a public company that no longer has any business operations. It retains its capital structure and public trading status with the intention to complete a reverse merger with a non-public company with an on-going business. This merger creates a new company that is both publicly trading and generating revenues. There are many reasons why a Shell Stock exists in the first place, but most commonly they either lost the business due to a bankruptcy, or just sold or closed it.
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